Under Armor Agrees to Pay $434 Million to Settle Lawsuit Alleging Sales Manipulation

Published on June 24, 2024

Sports apparel manufacturer Under Armour has agreed to pay $434 million to settle a class action lawsuit alleging the company manipulated sales data. The lawsuit, originally filed in 2017, accused Under Armour of “falsely claiming that consumer demand for the Company’s products was strong between the third quarter of 2015 and the fourth quarter of 2016 when in reality demand was in decline,” according to the court notice. The U.S. Securities and Exchange Commission (SEC) investigated the matter, and in 2021, found the company had engaged in a “pull forward” practice through which future orders were added to earlier quarters to boost sales numbers. This inflated the revenue numbers for those quarters, thus deceiving investors....

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